Pursuing a doctoral degree has tremendous costs, even when the degree is “fully funded.” Doctoral students fall behind their peers with B.A.s and M.A.s in many significant ways, and not just financially. Because doctoral training is, by and large, not suited for most nonacademic careers, Ph.D.s who leave the academy must often learn radically new skills for jobs that do not — and never will — require a doctorate. Some of those new skills are antithetical to doctoral training.